Welcome to the spring edition of the Smith & Griffith Newsletter! As nature renews itself, so do we, bringing you the freshest insights on the Alberta real estate market. But first, our team has exciting news as we unveil an innovative approach to selling your rural property with the Smith & Griffith Real Estate Team with CIR Realty!
Smith & Griffith is Now Offering Online Auctions!
Rees' lifelong affinity for land was cultivated by working on his own farm and ranch and his appreciation for Alberta's unique rural landscape, igniting a commitment to assist clients in selling and acquiring real estate of all kinds but particularly in the rural market.
Having spent over 23 years in the real estate industry, Rees has witnessed the evolving landscape of land sales, with auctions emerging as a prominent trend. Driven by a desire to participate in this transformative shift, he is ready to lead you through the process.
In collaboration with FRE.com, the Smith & Griffith Real Estate Team with CIR Realty is now offering our clients the ability to sell properties through auction with Rees as a trusted advisor. With innovative technology and marketing platforms, our team is confident in the decision to collaborate with the Future of Real Estate (FRE) to enhance the choices and opportunities in the marketplace.
Benefits of Selling Via Online Auction
- Controlled Timeline: Sellers manage the sale’s timing and all terms.
- Clear Market Value: Engage all interested buyers on a set date. Eliminates setting a list price.
- Stress-Free Sale: Properties can be sold as-is, removing conditions.
- Increased Competition: Potential for higher bids due to buyer competition and emotions.
- Neighbour Neutrality: Avoid choosing between neighbours as buyers.
- Pre-Qualified Buyers: Buyers perform due diligence prior to the auction, mentally committing to ownership.
- Convenience and Anonymity: Bidding in privacy from anywhere with internet access.
Call Rees today (403)350-7815 to explore the possibilities of selling your property through online auction and experience the future of real estate transactions with confidence and expertise at your side.
Low inventory and high demand continue to drive price gains in January and February! New listings continued to rise in February. However, low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year. “Purchasers are acting quickly when new supply comes onto the market, preventing inventory growth in the market," said Ann-Marie Lurie, Chief Economist at CREB®. “It is this strong demand and low supply that continues to drive price gains. The biggest supply challenge is for homes priced under $500,000, which saw inventories fall by 31% compared to last February. At the same time, we are starting to see supply levels rise for higher priced homes supporting more balanced conditions in the upper end.”
As a buyer, the current real estate market can be intimidating, especially given the low inventory and rising prices. However, with the right preparation and guidance, there's still ample opportunity for those seeking to buy. Our team is here to support you through these challenging markets.
Backed by over two decades of experience, we have a thorough understanding of the ins and outs of the real estate, providing you with an upper hand amongst the swarm of eager buyers. Partnering with us means making informed decisions every step of the way. Give us a call today to discuss your real estate needs!
Thinking of Selling? Reach out to Rees or Kari to openly discuss our marketing approach and/or request a copy of our 2024 listing presentation for more details.
Thinking of Buying? Realtor.ca is the top platform to find you the property you are searching for. Share your dream property details with us and we would be happy to set up an automatic MLS search to send listings of interest straight to your inbox. Due to continued low inventory, properties are coming on and off the market very quickly. Be the first to know with an automatic MLS search email.
After 30 consecutive years of growth, Canadian farmland values increased again in 2023 and are forecast to rise in 2024, says an expert at Farm Credit Canada, a Crown corporation that monitors land sales.
“Limited availability of farmland for sale and expanding demand for what we’re growing in Canada” will continue to propel appreciation in 2024, says FCC’s vice-president and chief economist J. P. Gervais. Farmland values across Canada rose by approximately 8% in 2023, compared with 12.8% in 2022, according to FCC figures. While next year’s increase may be less robust than in previous years, “we’re still seeing a very positive outlook for the industry,” says Mr. Gervais. “I’m a big believer that the demand for land will be strong going forward.” In the past three decades, the average price per acre of Canadian farmland has skyrocketed 727%, from $547 to $4,527.
When looking to SELL land, we are here to offer our FULL MLS LISTINGS and/or AUCTION SERVICES. Contact us for further details on getting your land SOLD for maximum $'s in 2024.
We are excited to see the 2023 results in the FCC Spring Report specifically Alberta land values. Please join our email list using the link below to receive the latest FCC report straight to your inbox courtesy of our team.
Alberta Budget 2024 announced February 29, 2024 and Alberta Land Titles fees are increasing.
Alberta's current land title fees include base charges of $50, alongside variable rates of $2.00 per $5,000 of property value and $1.50 per $5,000 of mortgage value for property transfers and mortgage registrations, last revised in 2019.
Alberta plans to replace the variable charges with a new Land Titles Registration Levy set at $5.00 per $5,000 of value for property transfers and mortgage registrations.
For example: For a $450,000 home purchase with a 10% down payment, this translates to a levy of $955, a $553.50 increase from existing fees.
Despite the increase, Alberta still leads the nation with the lowest land title fees.
The Budget also highlighted a notable increase in housing starts for single-family dwellings, particularly in Calgary, where they surged by over 40 percent year-over-year in the fourth quarter of 2023. Despite ongoing labor constraints within the construction sector, the pace of homebuilding is anticipated to sustain remarkable strength.
Until our next edition, enjoy all that spring has to offer and as always, we extend our sincere appreciation to our real estate clients who continue to place their trust in us and for friends and family who support us each day.
Thank you for choosing Smith & Griffith as your source for real estate expertise. We're dedicated to ensuring your success in this market.
Rees, Kari & Cassidy
“Opening Gates To The Country And Doors To The City”
Our business is growing because of referrals from clients and friends like you and we thank you for passing on the Smith & Griffith name.
We would love to assist others, so please send colleagues, friends and family our way. We promise to provide them with great service as we are committed to working with our clients to achieve their desired results!
The Smith & Griffith Real Estate Team with CIR Realty delivers a unique blend of residential and rural real estate expertise based on the western values of honesty, loyalty and integrity. The result is a top producing team working with you to deliver results.
